Kryptrex's Privacy policy
Effective Date: June, 2025
1. Introduction
Kryptrex (Kryptrex, "we," "our," or "us") is committed to protecting your privacy. This Privacy Policy outlines how we collect, use, disclose, and safeguard your personal information when you access or use our services. By engaging with our services, you acknowledge and agree to the practices described in this policy, which are designed to comply with the Nigeria Data Protection Act (NDPA) 2023 and other applicable data protection laws.
2. Information We Collect
We collect various types of information to provide and improve our services, verify your identity, and ensure the security of our platform. The categories of personal information we may collect include:
Personal Identification Data: This includes your full name, phone number, email address, Bank Verification Number (BVN), National Identification Number (NIN) or international passport details, and a selfie for facial verification. We collect these data points to fulfill our legal obligations under Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which are critical for preventing financial crime and ensuring the integrity of our services.
Transaction Data: Information related to your activities on our platform, such as wallet addresses, trade volume, transaction frequency, and payment information. This data is essential for processing your transactions, managing your account, and providing you with a seamless service experience.
Device & Usage Data: We automatically collect information about your device and how you interact with our services. This includes your IP address, device ID, browser type, operating system, and interaction logs. This data helps us to personalize your experience, improve the functionality and security of our platform, and analyze usage trends.
Location Data: We may collect approximate geolocation data to ensure compliance with regulatory requirements and to enhance our fraud prevention measures. This helps us to identify and mitigate potential risks and provide services relevant to your geographical location.
3. How We Collect Information
We gather your information through various secure and transparent methods:
Directly from you: When you register for an account, complete our verification processes, or interact with our customer support, you directly provide us with personal information.
Through our third-party KYC provider (Dojah): To streamline and secure our identity verification processes, we partner with Dojah. Dojah collects and processes your personal identification data, including BVN, NIN/passport, and selfie for facial verification, on our behalf. Dojah adheres to stringent data protection standards and is contractually obligated to maintain the confidentiality and security of your information. We have implemented appropriate safeguards to ensure that your data is handled in compliance with the NDPA.
Automatically via cookies, analytics tools, and server logs: As you use our services, we automatically collect certain information through technologies such as cookies and web analytics tools. This data helps us understand user behavior, improve website functionality, and enhance your overall experience. You can manage your cookie preferences through your browser settings.
From third-party financial institutions or partners: In certain circumstances, and where necessary for transaction settlement, compliance, or service provision, we may receive information from licensed financial partners or other third-party entities, always in accordance with applicable laws and agreements.
4. Why We Collect and Process Your Information (Lawful Basis)
We process your personal information based on the following lawful bases as defined by the NDPA:
Legal Obligation: We process your personal identification data (including BVN, NIN/passport, and selfie for facial verification) to comply with our legal obligations under Nigerian KYC and AML laws and regulations. This processing is mandatory for us to verify your identity, prevent financial crime, and report suspicious activities to relevant authorities as required by law.
Contractual Necessity: We process your personal information to fulfill our contractual obligations to you, such as providing, personalizing, and improving our services, processing your transactions, managing your account, and communicating with you about your account and updates. Without this information, we would be unable to provide you with our services.
Legitimate Interest: We may process certain information based on our legitimate interests, provided that such interests do not override your fundamental rights and freedoms. This includes processing data to detect and prevent fraud, money laundering, and misuse of our services, enhancing the security of our platform, improving our services through analytics, and for internal administrative purposes. We conduct a balancing test to ensure our legitimate interests are proportionate to your privacy rights.
Consent: In certain situations, we may rely on your explicit consent to process your personal information. Where consent is the legal basis for processing, you have the right to withdraw your consent at any time. However, please note that withdrawing consent may affect your ability to access or use certain features of our services.
5. Disclosure of Your Information to Third Parties
We may share your personal information with the following categories of third parties, only where necessary and lawful, and always under strict confidentiality agreements:
Identity Verification Providers: We share necessary personal identification data with Dojah for identity verification (KYC/AML) purposes. Dojah processes this data in compliance with their privacy policy and relevant data protection standards.
Cloud Hosting Providers: We utilize secure cloud hosting providers to store and process your data. These providers adhere to industry best practices for data security and privacy, including robust encryption and access controls, to ensure the highest level of protection for your information.
Licensed Financial Partners: We may share information with licensed financial partners for purposes such as transaction settlement, payment processing, and compliance with financial regulations.
Governmental and Regulatory Authorities: We may disclose your personal information to governmental or regulatory authorities, or other third parties, where required by law or to comply with legal processes, such as court orders or subpoenas, or to protect our rights, property, or safety, or the rights, property, or safety of others. This includes disclosures to authorities responsible for financial regulation and crime prevention, as mandated by Nigerian law.
We want to assure you that **we do not sell your personal data to third parties.**
6. Data Storage & Security
We are committed to protecting your personal information. We implement robust technical and organizational measures to safeguard your data from unauthorized access, alteration, disclosure, or destruction. These measures include:
Encryption: Your data is encrypted both during storage (at rest) and during transit (in motion) to prevent unauthorized interception and access.
Access Controls: Access to your personal data is strictly restricted to authorized personnel who require access for legitimate business purposes. All staff are trained on data protection and privacy protocols.
Secure Infrastructure: Our infrastructure, hosted via Render, follows industry-leading security practices and undergoes regular security audits to ensure the highest level of protection for your data.
Compliance: We maintain continuous compliance with the Nigeria Data Protection Act (NDPA) and other relevant data protection frameworks.
7. Your Rights
Under the Nigeria Data Protection Act (NDPA), you have certain rights regarding your personal information. These rights include:
Right to Access: You have the right to request access to the personal data we hold about you.
Right to Rectification: You can request the correction of inaccurate or incomplete personal information.
Right to Erasure (Right to be Forgotten)**: You have the right to request the deletion of your personal data under certain circumstances.
Right to Withdraw Consent: Where we rely on your consent for processing, you have the right to withdraw that consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal. Please note that withdrawing consent may limit your access to certain services.
Right to Lodge a Complaint: You have the right to lodge a complaint with the Nigeria Data Protection Commission (NDPC) if you believe your data protection rights have been violated.
To exercise any of these rights, please contact us at support@kryptrex.com. We will respond to your request in accordance with applicable law.
8. Data Retention
We retain your personal data for as long as necessary to fulfill the purposes for which it was collected, including for the purposes of satisfying any legal, accounting, or reporting requirements. Generally, we retain your data for 5 years after your account is closed or as otherwise required by law.
9. Cookies & Analytics
We use cookies and similar tracking technologies to analyze website usage, personalize your experience, and improve the quality of our services. Cookies are small text files placed on your device that collect standard internet log information and visitor behavior information. You have the ability to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. However, this may prevent you from taking full advantage of the website.
10. Children's Privacy
Our services are not intended for individuals under the age of 18. We do not knowingly collect personal data from minors. If we become aware that we have inadvertently collected personal information from a child under 18, we will take steps to delete such information from our records.
11. Changes to This Policy
We may update this Privacy Policy periodically to reflect changes in our practices or legal requirements. We will notify you of any significant changes by posting the revised Privacy Policy on our platform or by sending you an email notification. We encourage you to review this Privacy Policy regularly to stay informed about how we are protecting your information.
12. Contact Us
If you have any questions, concerns, or requests regarding this Privacy Policy or our data practices, please do not hesitate to contact us:
Email: support@kryptrex.com
Phone: +234 905 846 8723